unfair toss for double money?

Note: previous e-mail subscribers did not receive video links to our blog articles but they can be seen on this site (e.g., the recent article fitted life longevity).

If you had an option:
A] choose side and flip a fair coin to win $2m, or lose it all
B] or flip an unfair coin and see result; then choose side and re-flip the coin to win $2m, or lose it all

Then which should you choose? See result in our vodcast series:

Or on YouTube:

As noted, this is the background news story that began this series of polls.  Poll 1 with over 100 voters:

On The Rebel Billionaire, @richardbranson offers an entrepreneur a choice:

1] take a cheque for $1 million

2] or toss a coin to double their money, or lose it all

Not enough of a risk/reward to choose (2), unless you are worth hundreds of millions already. Which would you pick?

— Statistical Ideas (@salilstatistics) August 30, 2018

And Poll 2, which further utilizes ideas from the Monty Hall game show theme (Chapter 2 of Statistics Topics) and ideas on Bayesian modeling:

How about this game. Show host flips an unfair coin & shows you the result (H or T), before offering you:
1] $1 million guaranteed
2] or toss the coin to double your money (if H or T respectively), or lose it all

With no other information, which would YOU choose (option 1 or 2)?

— Statistical Ideas (@salilstatistics) August 30, 2018